This Slide Shows Bosses Totally Don't Understand Millennials

05/28/2015 08:28 am ET | Updated May 28, 2015

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It turns out high pay isn't everything to millennials.

Venture capitalist Mary Meeker delivered her annual Internet trends report on Wednesday, and among the 197 slides she presented was a little nugget on the disconnect between what millennials want in the workplace and what their bosses think they want.

Nearly half of managers believed high pay to be the driving factor in millennials' careers. But just 27 percent of young professionals said high pay was the most important component in their jobs.

Millennials, who make up the largest generation in the workforce this year, place the highest value on meaningful work. Thirty percent said it was the most important thing to them, while only 11 percent of managers banked on its value.

A greater percentage of millennials than managers also said they prized having a sense of accomplishment and engaging in challenging work. While 12 percent of managers thought having a high level of responsibility was the most important thing to millennials, just 3 percent of millennials agreed.

The discrepancy is in line with Meeker's findings that millennials favored training and development programs and flexible hours over cash bonuses and other work benefits.

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When it comes to technology, 34 percent of millennials prefer to collaborate online, rather than in person or over the phone. And, perhaps unsurprisingly, 45 percent use personal smartphones for work, compared with 18 percent of the older generation.

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